On July 16, the S&P 500 index, one of the most generally quoted benchmarks in American capitalism, surpassed its all-time high market value of $47 trillion. Only seven of the 500 publicly traded corporations accounted for one-third of the total value. To put it another way, 1.4 percent of those corporations were worth more than $16 trillion, the highest concentration of money in the fewest number…
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